Alliance Wealth Advisors LLC UT Grows Position in CDW Co. (NASDAQ:CDW)

Alliance Wealth Advisors LLC UT increased its stake in shares of CDW Co. (NASDAQ:CDW) by 5.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,814 shares of the information technology services provider’s stock after purchasing an additional 139 shares during the period. Alliance Wealth Advisors LLC UT’s holdings in CDW were worth $640,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. increased its position in CDW by 16.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 49,011 shares of the information technology services provider’s stock worth $11,141,000 after buying an additional 6,799 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of CDW by 44.9% during the 4th quarter. Cerity Partners LLC now owns 14,553 shares of the information technology services provider’s stock valued at $3,308,000 after purchasing an additional 4,511 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of CDW by 84.9% in the fourth quarter. Pacer Advisors Inc. now owns 15,924 shares of the information technology services provider’s stock worth $3,620,000 after purchasing an additional 7,310 shares during the last quarter. JGP Wealth Management LLC bought a new position in CDW during the fourth quarter valued at approximately $1,559,000. Finally, California Public Employees Retirement System raised its holdings in shares of CDW by 1.0% during the 3rd quarter. California Public Employees Retirement System now owns 819,011 shares of the information technology services provider’s stock worth $165,244,000 after acquiring an additional 7,854 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Down 0.5 %

Shares of CDW traded down $1.16 during mid-day trading on Friday, hitting $242.26. 424,550 shares of the company traded hands, compared to its average volume of 592,743. The company has a quick ratio of 1.11, a current ratio of 1.23 and a debt-to-equity ratio of 2.46. CDW Co. has a 1-year low of $162.59 and a 1-year high of $263.37. The company has a market capitalization of $32.55 billion, a PE ratio of 29.91, a price-to-earnings-growth ratio of 2.74 and a beta of 1.09. The business has a 50 day moving average of $247.25 and a 200 day moving average of $228.55.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.56 by $0.01. CDW had a net margin of 5.17% and a return on equity of 73.93%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the prior year, the company earned $2.40 earnings per share. The firm’s revenue was down 7.7% on a year-over-year basis. Equities research analysts anticipate that CDW Co. will post 9.89 EPS for the current year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, February 23rd. CDW’s payout ratio is 30.62%.

CDW declared that its board has approved a stock repurchase program on Wednesday, February 7th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

CDW has been the topic of several analyst reports. Citigroup boosted their target price on CDW from $255.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Evercore ISI lifted their price target on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. increased their price objective on shares of CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, Barclays boosted their target price on CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research report on Thursday, February 8th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $242.67.

CDW Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.